Sociedad Quimica Y Minera Stock (NYSE: SQM)

Sociedad Quimica Y Minera (NYSE:SQM) Stock

Sociedad Quimica Y Minera

Sociedad Quimica Y Minera De Chile SA is a Chilean commodities producer with significant operations in lithium (primarily used in batteries for electric vehicles and energy storage systems), specialty and standard potassium fertilizers, iodine (primarily used in X-ray contrast media), and solar salts. The company extracts these materials through its high-quality salt brine deposits and caliche ore. SQM also sells lithium concentrate from a joint venture hard rock lithium project in Australia and expanding its lithium refining assets in China.

Sociedad Quimica y Minera S.A. Common Stock

Sociedad Quimica Y Minera De Chile SA

First Trust Exchange-Traded Fund VIII FT Vest U.S. Equity Quarterly Max Buffer ETF

JP Morgan analyst Lucas Ferreira maintains Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) with a Neutral and lowers the price target from $44 to $39.

News

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on Sociedad Quimica Y Minera, Lowers Price Target to $39

Scotiabank analyst Ben Isaacson maintains Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) with a Sector Outperform and lowers the price target from $50 to $45.

Scotiabank Maintains Sector Outperform on Sociedad Quimica Y Minera, Lowers Price Target to $45

BMO Capital analyst Joel Jackson maintains Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) with a Outperform and lowers the price target from $55 to $45.

BMO Capital Maintains Outperform on Sociedad Quimica Y Minera, Lowers Price Target to $45

<h3>Companies Reporting Before The Bell</h3>
• Eagle Point Credit Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECC#NYSE">ECC</a>) is estimated to report quarterly earnings at $0.26 per share on revenue of $52.27 million. 
• Eagle Point Income (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIC#NYSE">EIC</a>) is expected to report quarterly earnings at $0.45 per share on revenue of $14.25 million. 
• Monro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNRO#NASDAQ">MNRO</a>) is likely to report quarterly earnings at $0.03 per share on revenue of $289.50 million. 
• Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) is projected to report quarterly earnings at $0.61 per share on revenue of $1.02 billion. 
• REX American Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REX#NYSE">REX</a>) is expected to report quarterly earnings at $0.34 per share on revenue of $161.27 million. 
• Abercrombie &amp; Fitch (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) is likely to report quarterly earnings at $1.33 per share on revenue of $1.06 billion. 
• Reservoir Media (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSVR#NASDAQ">RSVR</a>) is likely to report quarterly earnings at $0.16 per share on revenue of $40.94 million. 
• CollPlant Biotechnologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLGN#NASDAQ">CLGN</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $9.76 million. 
• Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) is likely to report quarterly earnings at $0.15 per share on revenue of $4.43 billion. 
• Capri Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>) is projected to report quarterly loss at $0.16 per share on revenue of $982.81 million. 
• VNET Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNET#NASDAQ">VNET</a>) is expected to report quarterly loss at $0.01 per share on revenue of $309.74 million. 
• Dick's Sporting Goods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) is estimated to report quarterly earnings at $4.32 per share on revenue of $3.60 billion. 
• Kingsoft Cloud Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) is likely to report earnings for its first quarter. 
• Nano Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NA#NASDAQ">NA</a>) is projected to report quarterly earnings at $2.40 per share on revenue of $3.31 billion. 
• Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) is expected to report quarterly earnings at $1.84 per share on revenue of $6.39 billion. 
• Icecure Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCM#NASDAQ">ICCM</a>) is expected to report quarterly loss at $0.08 per share on revenue of $750 thousand. 
• Amber International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBR#NASDAQ">AMBR</a>) is expected to report earnings for its first quarter. 
• Sono-Tek (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOTK#NASDAQ">SOTK</a>) is estimated to report quarterly earnings at $0.01 per share on revenue of $5.12 million. 
• OneConnect Financial Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OCFT#NYSE">OCFT</a>) is estimated to report earnings for its first quarter. 
• Columbus McKinnon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCO#NASDAQ">CMCO</a>) is projected to report quarterly earnings at $0.58 per share on revenue of $250.05 million. 
• Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) is expected to report quarterly earnings at $0.48 per share on revenue of $212.00 million. 
• Ituran Location &amp; Control (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITRN#NASDAQ">ITRN</a>) is likely to report quarterly earnings at $0.70 per share on revenue of $88.47 million. 
<h3>Companies Reporting After The Bell</h3>
• SentinelOne (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) is estimated to report quarterly loss at $0.24 per share on revenue of $228.40 million. 
• e.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) is expected to report quarterly earnings at $0.72 per share on revenue of $326.67 million. 
• Ncino (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) is estimated to report quarterly earnings at $0.16 per share on revenue of $140.13 million. 
• C3.ai (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) is likely to report quarterly loss at $0.20 per share on revenue of $107.70 million. 
• ATS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATS#NYSE">ATS</a>) is expected to report quarterly earnings at $0.28 per share on revenue of $689.21 million. 
• Nordson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) is likely to report quarterly earnings at $2.36 per share on revenue of $671.91 million. 
• NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is expected to report quarterly earnings at $0.75 per share on revenue of $43.25 billion. 
• HP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) is estimated to report quarterly earnings at $0.80 per share on revenue of $13.12 billion. 
• U-Haul Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHAL#NYSE">UHAL</a>) is likely to report quarterly loss at $0.26 per share on revenue of $1.16 billion. 
• Veeva Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) is likely to report quarterly earnings at $1.74 per share on revenue of $728.33 million. 
• Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) is estimated to report quarterly earnings at $3.40 per share on revenue of $1.60 billion. 
• Pure Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) is likely to report quarterly earnings at $0.25 per share on revenue of $770.35 million. 
• Agilent Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>) is estimated to report quarterly earnings at $1.26 per share on revenue of $1.63 billion. 
• Nutanix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) is projected to report quarterly earnings at $0.38 per share on revenue of $626.75 million. 
• Noah Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOAH#NYSE">NOAH</a>) is projected to report earnings for its first quarter. 
• Ooma (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OOMA#NYSE">OOMA</a>) is likely to report quarterly earnings at $0.18 per share on revenue of $64.82 million. 
• Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) is projected to report quarterly earnings at $2.55 per share on revenue of $9.75 billion. 
• Phreesia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHR#NYSE">PHR</a>) is projected to report quarterly earnings at $0.16 per share on revenue of $114.98 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

AMBR

CLGN

CMCO

CPRI

ICCM

ITRN

MNRO

NCNO

NDSN

NOAH

NTNX

NVDA

OCFT

OOMA

PLAB

PSTG

RSVR

SNPS

SOTK

UHAL

VEEV

VNET

Earnings Scheduled For May 28, 2025

Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) reported quarterly earnings of $0.48 per share which missed the analyst consensus estimate of $0.61 by 21.31 percent. This is a 40 percent decrease over earnings of $0.80 per share from the same period last year. The company reported quarterly sales of $1.04 billion which beat the analyst consensus estimate of $962.00 million by 7.69 percent. This is a 4.52 percent decrease over sales of $1.08 billion the same period last year.

Earnings Beats

Earnings Misses

Sociedad Quimica Y Minera Q1 EPS $0.48 Misses $0.61 Estimate, Sales $1.04B Beat $962.00M Estimate

<h3>Companies Reporting Before The Bell</h3>
• Bank of Nova Scotia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNS#NYSE">BNS</a>) is projected to report quarterly earnings at $1.57 per share on revenue of $9.02 billion. 
• Evaxion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVAX#NASDAQ">EVAX</a>) is likely to report quarterly loss at $0.25 per share on revenue of $3.20 million. 
• Seanergy Maritime Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHIP#NASDAQ">SHIP</a>) is expected to report quarterly loss at $0.44 per share on revenue of $23.13 million. 
• PDD Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) is estimated to report quarterly earnings at $2.49 per share on revenue of $14.17 billion. 
• BioLine Rx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLRX#NASDAQ">BLRX</a>) is estimated to report quarterly loss at $1.06 per share on revenue of $1.48 million. 
• Champion Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKY#NYSE">SKY</a>) is projected to report quarterly earnings at $0.76 per share on revenue of $595.42 million. 
• Zhihu (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZH#NYSE">ZH</a>) is estimated to report earnings for its first quarter. 
• AutoZone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) is projected to report quarterly earnings at $37.03 per share on revenue of $4.41 billion. 
<h3>Companies Reporting After The Bell</h3>
• Grupo Supervielle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPV#NYSE">SUPV</a>) is likely to report earnings for its first quarter. 
• Senstar Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNT#NASDAQ">SNT</a>) is likely to report earnings for its first quarter. 
• Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) is projected to report earnings for its first quarter. 
• Heico (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) is estimated to report quarterly earnings at $1.04 per share on revenue of $1.05 billion. 
• Semtech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) is expected to report earnings for its first quarter. 
• Agora (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/API#NASDAQ">API</a>) is likely to report earnings for its first quarter. 
• Box (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $274.67 million. 
• Okta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) is expected to report quarterly earnings at $0.77 per share on revenue of $680.10 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BLRX

EVAX

OKTA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

SHIP

SMTC

SUPV

Earnings Scheduled For May 27, 2025

WIIM

CSTM

SCCO

STLD

TECK

Shares of metals stocks are trading higher amid overall market strength after the US and China agreed to a temporary reduction in most tariffs on each other's goods. A decrease of trade tensions could reduce demand uncertainty for base metals.

AXTA

Shares of companies in the broader chemicals sector are trading lower as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

<h2 class="wp-block-heading">Bankruptcy Block</h2>
<ul>
<li>Plenty, a vertical farming company backed by billionaire Jeff Bezos, is <a href="https://www.wsj.com/articles/bezos-backed-vertical-farming-startup-plenty-files-for-bankruptcy-9049c694">wilting</a> in bankruptcy. According to the Wall Street Journal, the Bay Area startup joins the ranks of Bowery, AeroFarms and AppHarvest in the vertical farming graveyard. SoftBank was expected to take charge of Plenty's future, but instead, it's just tossed a $20.7 million DIP financing lifeline to <a href="https://in.benzinga.com/personal-finance/25/03/44225948/larry-ellison-poured-500-million-into-high-tech-farming-and-its-struggling-to-take-root">keep the crops alive</a>.</li>
</ul>
<ul>
<li>According to the <a href="https://www.nrn.com/casual-dining/bar-louie-files-for-chapter-11-bankruptcy-protection">Nation's Restaurant News</a>, Bar Louie filed for Chapter 11 bankruptcy protection Wednesday. The Texas-based chain operates 48 locations in the U.S. and has assets between $1 million and $10 million. Its liabilities are somewhere between $50 million and $100 million. The chain blamed rising food and labor costs as the chief reasons behind the financial issues. Bar Louie says it will restructure to reduce debt while keeping some restaurants open. Bar Louie is just the latest restaurant chain to go bankrupt. TGI Friday's, Red Lobster, Red Robin and On the Border are all burnt.</li>
</ul>
<ul>
<li>Hooters, which is on the <a href="https://www.benzinga.com/news/asset-sales/25/02/43897289/deal-dispatch-hooters-plans-restructuring-prada-in-talks-to-acquire-versace">verge</a> of bankruptcy, is trying to polish up its gimmick. The brand is parting ways with the decisions made by its private equity backers. Recall in 2021 when Hooters of America made waitresses wear underwear-like uniforms and participate in so-called &#8220;bikini&#8221; nights. "That's depressing to us,&#8221; Neil Kiefer, chief executive officer of HMC Hospitality Group, <a href="https://www.bloomberg.com/news/features/2025-03-27/hooters-bankruptcy-founders-to-welcome-families-end-bikini-nights?sref=TBDibEcD">told</a> Bloomberg. &#8220;We want to change that."</li>
</ul>
<h2 class="wp-block-heading">New On The Block</h2>
<ul>
<li>AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) is pursuing Lumen Technologies&#8216; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) consumer fiber business. According <a href="https://www.bloomberg.com/news/articles/2025-03-25/at-t-said-in-talks-to-buy-lumen-s-consumer-fiber-unit?sref=TBDibEcD">to</a> Bloomberg, the price tag exceeds $5.5 billion. The talks come about two months after AT&amp;T completed a sale-leaseback deal for 74 of its properties, <a href="https://in.benzinga.com/news/asset-sales/25/01/43197188/att-nets-850-million-in-sale-leaseback-deal-as-part-of-copper-network-exit">generating $850 million in cash</a>.</li>
</ul>
<ul>
<li>Searchlight Capital Partners <a href="https://www.bloomberg.com/news/articles/2025-03-24/f-35-pilot-outfitter-survitec-weighs-unit-sale-in-defense-boom?sref=TBDibEcD">hired</a> investment bank Houlihan Lokey Inc. to run an auction for Survitec&#8216;s aerospace and defense business. The buyout firm unit acquired Survitec in 2019. The sale process is indicative of the heightened demand for defense assets. <a href="https://www.pwc.com/us/en/industries/industrial-products/library/aerospace-defense-deals-outlook.html">Per</a> PwC, there's been a &#8220;marked increase in portfolio reshaping&#8221; as aerospace and defense companies focus on core assets.</li>
</ul>
<ul>
<li>Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) is <a href="https://www.bloomberg.com/news/articles/2025-03-27/blackstone-backed-compliance-tech-firm-isn-mulls-6-billion-sale?srnd=phx-deals&amp;sref=TBDibEcD">reportedly</a> shopping around its ISN Software segment. The Dallas-based compliance software firm is said to be valued at over $6 billion. A bank hasn&#8217;t been hired yet, according to Bloomberg, but buyers are showing interest.</li>
</ul>
<ul>
<li>Private equity firm I Squared Capital is seeking to divest Irish power producer, Energia Group, which is valued at approximately 2 billion euros ($2.2 billion). Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-03-27/i-squared-said-to-start-2-billion-sale-of-utility-firm-energia?srnd=phx-deals&amp;sref=TBDibEcD">reports</a> that the sale could attract interest from other energy firms looking to expand in the European market.</li>
</ul>
<ul>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) is planning to sell its 50.1% stake in Cuxhaven, Germany-based PNE. With a market cap exceeding 1 billion euros, PNE specializes in developing wind and solar energy projects. Reuters reports that the sale of this stake could bolster the firm&#8217;s focus on other renewable energy ventures across Europe.</li>
</ul>
<h2 class="wp-block-heading">Updates From The Block</h2>
<ul>
<li>Cintas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) is no longer buying work uniform provider UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>). The proposed deal would have offered $275 per share in cash, a 46% premium over UniFirst's 90-day average closing price as of Jan. 6. Despite weeks of talking and little agreement, the parties have decided to call it quits. On the bright side, Cintas <a href="https://in.benzinga.com/25/03/44516589/cintas-analysts-boost-their-forecasts-after-upbeat-earnings">reported upbeat earnings</a>.</li>
</ul>
<ul>
<li>William Blair is advising CentralReach LLC, a portfolio company of Insight Partners, on its pending acquisition by Roper Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NASDAQ">ROP</a>) for $1.85 billion. </li>
</ul>
<ul>
<li>India wants to secure a stake in Chilean mining leader SQM's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) projects in Australia. This deal would give India, a lithium importer, access to critical battery minerals to cater to its growing market. The Indian consortium, led by Khanij Bidesh India Ltd (KABIL), is pursuing stakes in SQM's Mount Holland and Andover lithium projects in Western Australia. Per initial estimates, a 20% stake in these projects would be <a href="https://www.benzinga.com/25/03/44533351/india-targets-sqms-australian-lithium-to-diversify-its-imports">worth around $600 million</a>.</li>
</ul>
<h2 class="wp-block-heading">Off The Block</h2>
<ul>
<li>Napster, the OG of digital music, <a href="https://apnews.com/article/napster-music-pioneer-service-sold-7c2541f805d8debf0433171696c54518">sold</a> for $207 million to tech startup Infinite Reality. The move signals Napster's evolution from its nostalgic roots into the world of AI and all things immersive. Napster CEO Jon Vlassopulos, who used to be Roblox's global head of music, is staying at the helm—though now he's also taking on a global role at iR. This acquisition comes hot on the heels of iR's massive $3 billion funding round, pushing the company's valuation to a cool $12.25 billion. Infinite Reality&#8217;s backers include Steve Aoki, Imagine Dragons, Rudy Gobert, and Taylor Fritz.</li>
</ul>
For last week&#8217;s edition of the <a href="https://www.benzinga.com/news/asset-sales/25/03/44443094/deal-dispatch-sandals-for-sale-chisholms-celtic-pride-matrix-producer-faces-bankrupt-reality">Deal Dispatch, click here</a>.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/real-estate/25/03/44512914/christina-ricci-is-selling-her-4-175-million-home-she-bought-last-year-to-house-a-family-member-who-lost-theirs-in-los-angeles-wildfires">Christina Ricci Is Selling Her $4.175 Million Home She Bought Last Year to House a Family Member Who Lost Theirs in Los Angeles Wildfires</a></li>
</ul>

CTAS

LUMN

Deal Dispatch: Bezos-Backed Crop Company Wilts, Tech Startup Nabs Napster For $207 Million

India wants to secure a stake in Chilean mining leader SQM's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) projects in Australia. This deal would give India, <a target="_blank" href="https://www.benzinga.com/topic/lithium" rel="noreferrer noopener">a lithium importer</a>, access to critical battery minerals to cater to its growing market.
According to anonymous sources cited by Reuters exclusive report, the Indian consortium, led by Khanij Bidesh India Ltd (KABIL), is pursuing stakes in SQM's Mount Holland and Andover lithium projects in Western Australia. Per initial estimates, a 20% stake in these projects would be worth around $600 million.
"This is so far India's biggest attempt to secure lithium supplies overseas. The due diligence is on, and the companies have expressed their interest with an initial offer," a source told Reuters.
India's EV sales made up just 2.5% of the over 4 million cars sold in 2024. However, the growth velocity of 20% in the year far outpaced most other markets, prompting the stakeholders to secure a supply of this critical metal from SQM, the world's second-largest producer.
Sourcing Australian lithium would help the fastest-growing major economy move from its close dependence on imports from China and Hong Kong.
While India announced a 5.9-million-tonne lithium discovery in Jammu and Kashmir in 2023, those projects have stalled so far, as two failed auction attempts revealed weak investor interest.
Initially hailed as a breakthrough, these projects faced geological and technical challenges. Furthermore, industry experts argue that the reported lithium content is much lower than the Geological Survey of India (GSI) initially claimed, and the deposit's clay-based composition makes extraction difficult owing to the presence of potassium, aluminum, silicon, and fluorine.
Moreover, as a source of conflict between India and Pakistan, the region's political instability has deterred potential investors. Tensions remain high since India revoked Jammu and Kashmir's semi-autonomous status in 2019.
Although GSI pursued exploration in Odisha, Karnataka, and Rajasthan, the details of those efforts remain unknown. Additionally, last year, KABIL signed an agreement with the Argentinian state-owned CAMYEN, securing exploration and exploitation rights for 15,700 hectares in the province of Catamarca.
Still, mine development is a slow and complex process, often taking over a decade to reach full-scale production. Thus, India's latest move signals that the government has recognized that waiting to develop a domestic supply is not a viable short-term solution.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44498083/trumps-copper-tariffs-might-come-sooner-rather-than-later-insiders-warn" target="_blank" rel="noreferrer noopener">Trump's Copper Tariffs Might Come Sooner Rather Than Later, Insiders Warn</a></li>
</ul>
i

Asia

Large Cap

Emerging Markets

Commodities

Asset Sales

Legal

Markets

India Targets SQM's Australian Lithium To Diversify Its Imports

KoBold Metals, a startup backed by billionaires Bill Gates and Jeff Bezos, has approached the Democratic Republic of Congo's (DRC) government with an offer to develop one of the world's largest hard rock <a target="_blank" href="https://www.benzinga.com/topic/lithium" rel="noreferrer noopener">lithium mines</a>.
The mining startup looks to take over the disputed mining license for the Roche Dure deposit, taking advantage of the two governments' discussions about a potential <a target="_blank" href="https://www.benzinga.com/25/03/44216408/dr-congo-explores-a-minerals-for-security-deal-with-the-us" rel="noreferrer noopener">minerals-for-security partnership</a>.
KoBold's bid could resolve an ongoing dispute between Australia's AVZ Minerals and China's Zijin Mining Group. AVZ, which previously controlled the lithium project, lost its rights in 2023 when the government split the permit, handing part of it to Zijin. Per Bloomberg's <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-03-21/kobold-makes-offer-for-congo-lithium-as-country-courts-us" rel="noreferrer noopener">report</a>, KoBold's proposal involves compensating AVZ and acquiring the remaining stake while allowing Zijin to maintain control over the northern section of the deposit.
Despite an 80% decline in lithium prices since a peak in 2022, Zijin has actively expanded its operations, acting greedy when others are fearful in anticipation of a future demand and price rebound.
Meanwhile, KoBold staked its claim as a unique company in this industry, using a proprietary AI-powered technology that analyzes geological data more accurately than traditional exploration methods.
This tech-driven approach has attracted over $400 million in funding from high-profile investors, including Breakthrough Energy Ventures (founded by Gates) and Bezos' Bezos Expeditions.
Arguably, the company's best success has been in neighboring Zambia, where it found the Mingomba asset – possibly the <a target="_blank" href="https://www.benzinga.com/news/24/02/36940360/kobold-metals-announces-historic-copper-discovery-in-zambia" rel="noreferrer noopener">best copper asset in the country</a>. Experts believe that once operational in the early 2030s, it could rival Zijin's Kamoa-Kakula mine in DRC, which produced almost 400,000 tons of copper in 2023.
While DRC is the world's largest producer of cobalt, lithium extraction in the country has lagged behind other regions, such as Australia and South America.
Roche Dure could change the balance, placing the country on the map of major battery-grade lithium producers, as KoBold's interest aligns with the effort to bring this region closer under U.S. influence and pacify the unrest that threatens mineral production.
Still, extraction of hard rock lithium requires extensive open-pit excavation. This traditional method generates significantly more waste rock, consumes vast amounts of water, and uses toxic chemicals in processing, posing greater risks to local ecosystems and communities. Yet, in anticipation of lithium demand, companies are increasingly looking for large-scale projects.
KoBold Metals remains a private company, but CEO Josh Goldman told CNBC a year ago that it plans to go public within three to four years.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44442925/alaska-drilling-restrictions-set-to-be-lifted-as-energy-projects-advance" target="_blank" rel="noreferrer noopener">Alaska Drilling Restrictions Set To Be Lifted As Energy Projects Advance</a></li>
</ul>
Photo via Shutterstock

Global

BATT

CARZ

DRIV

FEAM

Hycroft Mining Holding Corporation - Class A Common Stock

HYMC

IDRV

KARS

LITM

LTHM

Gates And Bezos-Backed Startup Makes Move For DR Congo's Lithium

The three major indices were mostly flat in midday trading Wednesday with the S&amp;P 500 and Nasdaq slightly under the flatline and the Dow Jones<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44143660/howard-lutnick-says-president-definitely-thinks-theres-a-bitcoin-strategic-reserve"> up 39 points.&nbsp;</a>
Wall Street digested mixed economic data after the ISM Services PMI<a href="https://www.benzinga.com/news/econ-s/25/03/44143666/us-services-sector-unexpectedly-expands-in-february-despite-slowing-job-growth"> price index indicated</a> strong growth in the services sector, but the ADP employment report came in well below forecasts and added the fewest jobs in seven months. 
Traders awaited further <a href="https://www.benzinga.com/news/25/03/44143647/trump-considering-tariff-relief-for-mexico-canada-commerce-secretary-lutnick-says">developments on trade policy</a> after Commerce Secretary Howard Lutnick appeared on Bloomberg Television on Wednesday. Lutnick said President Donald Trump would likely make a decision on possible tariff relief for Mexico and Canada Wednesday afternoon.
Read Next: <a href="https://www.benzinga.com/news/earnings/25/03/44110273/trump-tariffs-will-raise-prices-within-days-target-ceo-says">Trump Tariffs Will Raise Prices &#8216;Within Days,&#8217; Target CEO Says</a>
The yield on the 10-year US Treasury note was at 4.23% on Wednesday, trimming declines from the morning after expansion in the services sector, reflected by the ISM PMI easing concerns on lower growth. However, yields remained near four-month lows touched earlier in the week.  The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) fell 0.24%.  
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was up 1% on Wednesday, and up nearly 5% on the week, as investors look forward to President Trump's White House crypto summit on Friday.&nbsp;
<h2 class="wp-block-heading">Wednesday's Performance In Major U.S. Indices, ETFs</h2>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1 day % chg.</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,207.74</td>
<td>-0.43%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,756.29</td>
<td>-0.38%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,470.06</td>
<td>-0.12%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,075.09</td>
<td>-0.21%</td>
</tr>
</tbody>
</table>
</figure>
According to Benzinga Pro data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.43% at $574.36. </li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down 0.14% at $424.98. </li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;fell 0.58% to $492.67. </li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>)&nbsp;slid 0.59% to $205.22. </li>
<li>The&nbsp;Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;was down 0.19% to $207.85. </li>
<li>The&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;was down 3.31% to $84.09. </li>
</ul>
<h2 class="wp-block-heading">Wednesday&#8217;s Stock Movers:&nbsp;</h2>
Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) shares plunged Wednesday after the company&#8217;s weak outlook overshadowed its <a href="https://www.benzinga.com/news/earnings/25/03/44142510/abercrombie-q4-earnings-beat-overshadowed-by-cautious-q1-outlook-stock-plunges">better-than-expected</a> fourth-quarter results. The company said it expects first-quarter EPS in the range of $1.25 to $1.45 versus the $2.01 estimate.
Stocks reacting to company earnings reports included:&nbsp;
<ul>
<li>ChargePoint Holdings, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) <a href="https://www.benzinga.com/quote/chpt" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/chpt" target="_blank" rel="noreferrer noopener"></a></li>
<li>Ross Stores, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) </li>
<li>Rigel Pharmaceuticals, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIGL#NASDAQ">RIGL</a>) </li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) &nbsp;</li>
<li>Box, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) </li>
<li>Sociedad Quimica y Minera S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) </li>
<li>AeroVironment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>)</li>
<li>Stem, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) </li>
<li>Foot Locker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>)</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) </li>
<li>Arbe Robotics Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBE#NASDAQ">ARBE</a>) </li>
</ul>
Companies reporting after Wednesday&#8217;s closing bell include:&nbsp;
<ul>
<li>Grindr Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRND#NYSE">GRND</a>) </li>
<li>LendingTree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TREE#NASDAQ">TREE</a>) </li>
<li>MongoDB, Inc. (NAS+DAQ:MDB) </li>
<li>Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) </li>
<li>Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) </li>
<li>Zscaler, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) </li>
<li>Victorias Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) </li>
<li>Fortuna Mining Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>) </li>
</ul>
Read Next:<a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying" target="_blank" rel="noreferrer noopener">&nbsp;</a>
<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying" target="_blank" rel="noreferrer noopener">Markets Tank After Trump Confirms More Tariffs: Here's What Wall Street Is Saying</a></li>
</ul>
Image: Shutterstock

Equities

Market Summary

Sector ETFs

Bonds

Broad U.S. Equity ETFs

Politics

Movers

Tech

ETFs

General

$BTC

ARBE

AVAV

CHPT

CRWD

SPDR Dow Jones Industrial Average ETF Trust

GRND

MRVL

RGTI

RIGL

ROST

STEM

iShares Trust Barclays 20+ Year Treasury Bond Fund

TREE

VSCO

Select Sector SPDR-Consumer Discretionary

Wall Street Awaits Trump's Tariff Decision, Digests Mixed Economic Data: What's Driving Markets Wednesday?

Other guidance includeLithium and Derivatives: For 2025, we expect an increase of approximately 15% in our sales volumes compared to 2024, including sales of around 10,000 metric tons of LCE from the Mt. Holland
Other guidance include
<ul>
<li>Lithium and Derivatives: For 2025, we expect an increase of approximately 15% in our sales volumes compared to 2024, including sales of around 10,000 metric tons of LCE from the Mt. Holland operation. We also anticipate that the average realized price in 2025 should be lower than in 2024, with first quarter of 2025 prices slightly below those recorded in the fourth quarter of 2024.</li>
<li>We estimate that the potassium nitrate market, excluding internal production and consumption in China, grew by 17%, returning to 2021 levels. For 2025, we anticipate market growth of around 4-5%, with prices remaining similar to those observed during the second half of 2024. Additionally, we expect an increase in our sales volumes, in line with or slightly exceeding market growth.</li>
<li>Iodine and Derivative: Throughout 2024, we observed quarter-over-quarter price increases, and we expect the average sales price in the first quarter of 2025 to be higher than what was seen in the fourth quarter of 2024, when our price reached US$69.7 per kilogram. We anticipate these market conditions to persist throughout 2025, with prices remaining relatively stable, due to limited market supply. Overall, we expect market demand to stabilize, with market growth of approximately 2% in 2025 compared to 2024. Sales volumes are projected to remain in line with 2024 levels.</li>
<li>Potassium: For 2025, we anticipate a significant reduction of approximately 50% in our potassium sales volumes due to lower production in the Salar de Atacama. This aligns with our plan to reduce brine extraction, prioritizing high-lithium-content brines. Additionally, by prioritizing potassium chloride production as a feedstock to increase potassium nitrate production in our SPN business line, there will be less potassium available for third-party sales, which will become a lower priority.</li>
</ul>
Industrial Chemicals: For 2025, we expect sales volumes to be relatively flat compared to 2024 with market prices relatively stable at current levels.

Guidance

Sociedad Quimica Y Minera Expects 2025 Capital Expenditure To Be Approximately $1.1B, Including Maintenance

Chilean miner SQM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) reported a steep drop in Q4 2024 profit as <a target="_blank" href="https://www.benzinga.com/topic/lithium" rel="noreferrer noopener">declining lithium prices</a> started to weigh on profitability.
The world's second-largest lithium producer posted a net profit of $120.1 million, or $0.42 per share, down from $205.9 million in the same period last year, while analysts expected $130.95 million, or $0.52 per share. Quarterly revenue reached $1.07 billion, barely exceeding expectations of $1 billion.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com//node/42433867" rel="noreferrer noopener">Lithium Producers Brace For Prolonged Oversupply, Stalled Prices</a>
The company's lithium and derivatives revenue in 2024 totaled $2.24 billion, a significant 56.7% decline from $5.18 billion in 2023. Despite a 21% increase in lithium sales volume, which reached nearly 205,000 metric tons of lithium carbonate equivalent, the average realized price plummeted by over 64%, from $30,467 per ton in 2023 to $10,936 per ton in 2024.
"On the lithium side, we are quite optimistic as we estimate that the market demand grew 25% in 2024 and we anticipate that global demand could grow around 17% this year, supported by electric car sales growth as well as battery energy storage systems in different markets around the globe," CEO Ricardo Ramos <a target="_blank" href="https://ir.sqm.com/static-files/12d462b5-5953-4cfd-b7c4-ae8a571e739c" rel="noreferrer noopener">said</a> in a press release.
"We believe that prices will remain relatively stable throughout this year, and remain optimistic about a positive trend starting in 2026," he added.
Looking ahead, SQM expects lithium sales volumes to increase by approximately 15% in 2025, including 10,000 metric tons from its Mt. Holland operation in Australia. Ramos also noted progress on the Kwinana refinery, which is on track to begin operations in the middle of this year.
Still, despite optimism, the management anticipates average realized lithium prices in 2025 to be lower than those from 2024, with the first quarter slightly below the last quarter of 2024.
SQM spent around $1.6 billion on capital expenditures in 2024, including $1.3 billion on expansion projects across its divisions. For 2025, the company plans to allocate around $1.1 billion in capex, with $550 million designated for its lithium operations in Chile, $350 million for the iodine and plant nutrition business, and $200 million for its international lithium ventures.
Prolonged lithium weakness is starting to influence lower capex, prompting miners to scrap some projects altogether. Sibanye-Stillwater recently said it would not proceed with the Rhyolite Ridge <a target="_blank" href="https://www.benzinga.com/government/24/10/41534046/biden-administration-approves-first-lithium-project" rel="noreferrer noopener">lithium-boron project in Nevada</a>. According <a target="_blank" href="https://www.reuters.com/markets/commodities/sibanye-stillwater-pulls-out-rhyolite-ridge-lithium-project-2025-02-26/" rel="noreferrer noopener">to</a> Reuters, the board decided to halt the $500 million joint venture with Ioneer, citing that the project did not meet investment hurdle rates at current lithium pricing assumptions.
Price Action: SQM stock traded 1.80% to $37.67 premarket at the last check on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44104459/toronto-risks-its-mining-hub-status-as-bureaucracy-and-geopolitics-take-toll" target="_blank" rel="noreferrer noopener">Toronto Risks Its Mining Hub Status As Bureaucracy And Geopolitics Take Toll</a></li>
</ul>

SQM Cuts Capex As Lower Lithium Prices Weigh-In On Miners

Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) reported quarterly earnings of $0.42 per share. This is a 40.85 percent decrease over earnings of $0.71 per share from the same period last year. The company reported quarterly sales of $1.07 billion which beat the analyst consensus estimate of $984.00 million by 9.15 percent. This is a 18.14 percent decrease over sales of $1.31 billion the same period last year.

Sociedad Quimica Y Minera Q4 2024 GAAP EPS $0.42 Down From $0.71 YoY, Sales $1.07B Beat $984.00M Estimate

U.S. stocks plunged Tuesday as President Donald Trump&#8216;s tariffs on key trade partners came into effect, prompting retaliatory measures and intensifying <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44110685/markets-see-hardly-a-flesh-wound-so-far-but-centurys-biggest-trade-war-looms-says-bob-elliott">global trade tensions.</a>
The Dow Jones Industrial Average fell 1.8%, extending Monday&#8217;s sharp decline of nearly 650 points and heading towards its worst performance of 2025. The S&amp;P 500 decreased by 1.7%, while the Nasdaq Composite dropped 1.9%, putting it<a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44108913/tariffs-trump-tumult-how-to-trade-this-volatility-vix-surge"> on course</a> to enter correction territory, defined as a 10% drop from its recent peak.&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/25/03/44110273/trump-tariffs-will-raise-prices-within-days-target-ceo-says">Trump Tariffs Will Raise Prices &#8216;Within Days,&#8217; Target CEO Says</a>
<a href="https://www.benzinga.com/25/03/44102599/canadian-pm-justin-trudeau-retaliates-with-25-tariffs-on-us-goods-amid-escalating-trade-war">Affected countries</a> announced retaliatory measures, further dampening investor sentiment.
China announced retaliatory tariffs of up to 15% on certain U.S. products, including chicken, wheat, corn, and cotton. Canadian Prime Minister Justin Trudeau declared that Canada would impose a 25% tariff on U.S. goods. Mexican President Claudia Sheinbaum stated that Mexico would respond with tariffs and other measures, to be announced on Sunday.
The yield on the US 10-year Treasury note fell to 4.13% on Tuesday, its lowest level since October 2024. Markets are now pricing in three quarter-point rate cuts by the Federal Reserve in 2025, according to data from CME FedWatch. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) slipped 0.58%. 
Natural gas futures rose more than 8% on Tuesday, above $4.45/MMBtu, the highest since December 2022. Stockpiles remain below the five-year average due to earlier extreme cold in the U.S. while LNG export flows have reached record levels. The United States Natural Gas Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>) ETF climbed 8.5%.&nbsp;
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued Monday's decline to trade below the $84,000 mark, leading crypto markets lower. 
<h2 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h2>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1 day % chg.</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,175.89</td>
<td>-0.99%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,772.73</td>
<td>-1.32%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,535.92</td>
<td>-1.52%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,064.42</td>
<td>-1.81%</td>
</tr>
</tbody>
</table>
</figure>
According to Benzinga Pro data:
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 1.24% to $576.36. </li>
<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down 1.45% at $425.81.&nbsp;</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.8% to $493.08.&nbsp;</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) slid 1.1% to $205.00.</li>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) was down 2.17% to $207.38.&nbsp;</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was down 1.06% to $86.87.&nbsp;</li>
</ul>
<h2 class="wp-block-heading">Tuesday's Stock Movers:&nbsp;</h2>
Shares of Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>), bucked the market trend, surging 18% after the company reported&nbsp;better-than-expected <a href="https://www.benzinga.com/analyst-ratings/upgrades/25/03/44108947/okta-stock-is-surging-tuesday-heres-why">financial results</a> on Monday. 
Stocks reacting to company earnings reports included:&nbsp;
<ul>
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>)&nbsp;</li>
<li>Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>)&nbsp;</li>
<li>B. Riley Financial, Inc.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>)&nbsp;</li>
<li>Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>)&nbsp;</li>
<li>NuScale Power Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>)&nbsp;</li>
<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>)&nbsp;</li>
<li>Curaleaf Hldgs Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>)&nbsp;</li>
<li>Dave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>)&nbsp;</li>
<li>Emergent BioSolutions Inc.&nbsp; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>)&nbsp;</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>)&nbsp;</li>
<li>Concentra Group Holdings Parent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CON#NYSE">CON</a>)&nbsp;</li>
</ul>
Companies reporting after Tuesday's closing bell include:&nbsp;
<ul>
<li>ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>)</li>
<li>Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) </li>
<li>Rigel Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIGL#NASDAQ">RIGL</a>) </li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) </li>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) </li>
<li>Sociedad Quimica y Minera S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) </li>
<li>AeroVironment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) </li>
<li>Stem, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) </li>
</ul>
Read Next:<a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">&nbsp;</a>
<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a></li>
</ul>
Image: Shutterstock

ASTS

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

DAVE

GTLB

RILY

Stocks Drop As Trade War Escalates: What's Driving Markets Tuesday?

<h3>Companies Reporting Before The Bell</h3>
• 908 Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASS#NASDAQ">MASS</a>) is likely to report quarterly loss at $0.37 per share on revenue of $16.18 million. 
• Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) is projected to report quarterly loss at $0.23 per share on revenue of $262.65 million. 
• NexGen Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NXE#NYSE">NXE</a>) is projected to report earnings for its fourth quarter. 
• EVgo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>) is estimated to report quarterly loss at $0.09 per share on revenue of $69.00 million. 
• L.B. Foster (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSTR#NASDAQ">FSTR</a>) is estimated to report quarterly earnings at $0.22 per share on revenue of $131.48 million. 
• WAVE Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WVE#NASDAQ">WVE</a>) is estimated to report quarterly loss at $0.24 per share on revenue of $25.59 million. 
• InfuSystems Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INFU#AMEX">INFU</a>) is projected to report quarterly earnings at $0.08 per share on revenue of $34.40 million. 
• Amylyx Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMLX#NASDAQ">AMLX</a>) is expected to report earnings for its fourth quarter. 
• Neuronetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) is projected to report quarterly loss at $0.24 per share on revenue of $18.98 million. 
• Y-mAbs Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YMAB#NASDAQ">YMAB</a>) is estimated to report quarterly loss at $0.12 per share on revenue of $26.94 million. 
• Olaplex Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLPX#NASDAQ">OLPX</a>) is projected to report quarterly earnings at $0.01 per share on revenue of $87.51 million. 
• Hagerty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HGTY#NYSE">HGTY</a>) is expected to report quarterly earnings at $0.01 per share on revenue of $279.58 million. 
• Angel Oak Mortgage REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOMR#NYSE">AOMR</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $9.99 million. 
• Esperion Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESPR#NASDAQ">ESPR</a>) is estimated to report quarterly loss at $0.13 per share on revenue of $63.06 million. 
• Sophia Genetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOPH#NASDAQ">SOPH</a>) is expected to report quarterly loss at $0.15 per share on revenue of $17.71 million. 
• Paysafe (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSFE#NYSE">PSFE</a>) is projected to report quarterly earnings at $0.72 per share on revenue of $437.22 million. 
• Compugen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGEN#NASDAQ">CGEN</a>) is likely to report quarterly loss at $0.07 per share on revenue of $24.96 million. 
• Sea (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) is expected to report quarterly earnings at $0.70 per share on revenue of $4.60 billion. 
• Genius Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GENI#NYSE">GENI</a>) is estimated to report quarterly earnings at $0.07 per share on revenue of $175.71 million. 
• On Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) is expected to report quarterly earnings at $0.18 per share on revenue of $593.34 million. 
• Nayax (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYAX#NASDAQ">NYAX</a>) is projected to report quarterly earnings at $0.10 per share on revenue of $91.89 million. 
• Best Buy Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) is likely to report quarterly earnings at $2.42 per share on revenue of $13.69 billion. 
• Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) is likely to report quarterly earnings at $2.65 per share on revenue of $30.28 billion. 
• CPI Card (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMTS#NASDAQ">PMTS</a>) is estimated to report quarterly earnings at $0.57 per share on revenue of $118.97 million. 
• Wag Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PET#NASDAQ">PET</a>) is likely to report quarterly earnings at $0.40 per share on revenue of $290.88 million. 
• Modiv Industrial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDV#NYSE">MDV</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $11.86 million. 
• AutoZone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) is estimated to report quarterly earnings at $29.90 per share on revenue of $4.00 billion. 
<h3>Companies Reporting After The Bell</h3>
• Medallion Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MFIN#NASDAQ">MFIN</a>) is expected to report quarterly earnings at $0.33 per share on revenue of $53.66 million. 
• Southland Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SLND#AMEX">SLND</a>) is projected to report quarterly loss at $0.49 per share on revenue of $230.13 million. 
• Gulf Island Fabrication (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIFI#NASDAQ">GIFI</a>) is expected to report quarterly earnings at $0.12 per share on revenue of $41.00 million. 
• Cumberland (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPIX#NASDAQ">CPIX</a>) is projected to report earnings for its fourth quarter. 
• Baytex Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTE#NYSE">BTE</a>) is estimated to report quarterly earnings at $0.16 per share on revenue of $980.40 million. 
• Stellus Cap Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCM#NYSE">SCM</a>) is estimated to report quarterly earnings at $0.39 per share on revenue of $26.54 million. 
• ChromaDex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDXC#NASDAQ">CDXC</a>) is estimated to report quarterly earnings at $0.02 per share on revenue of $26.52 million. 
• Rigel Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIGL#NASDAQ">RIGL</a>) is expected to report quarterly earnings at $0.33 per share on revenue of $57.60 million. 
• Astronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATRO#NASDAQ">ATRO</a>) is likely to report quarterly earnings at $0.28 per share on revenue of $194.91 million. 
• Fuel Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEK#NASDAQ">FTEK</a>) is expected to report quarterly loss at $0.03 per share on revenue of $5.63 million. 
• comScore (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCOR#NASDAQ">SCOR</a>) is likely to report quarterly earnings at $0.36 per share on revenue of $91.66 million. 
• Alpha Teknova (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) is estimated to report quarterly loss at $0.12 per share on revenue of $8.78 million. 
• Mayville Engineering (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEC#NYSE">MEC</a>) is projected to report quarterly loss at $0.08 per share on revenue of $124.13 million. 
• NeuroPace (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NPCE#NASDAQ">NPCE</a>) is estimated to report quarterly loss at $0.24 per share on revenue of $21.11 million. 
• ATN International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATNI#NASDAQ">ATNI</a>) is projected to report quarterly loss at $0.19 per share on revenue of $179.11 million. 
• Stem (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) is projected to report quarterly loss at $0.16 per share on revenue of $49.37 million. 
• OrthoPediatrics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KIDS#NASDAQ">KIDS</a>) is projected to report quarterly loss at $0.26 per share on revenue of $52.70 million. 
• Ascent Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACNT#NASDAQ">ACNT</a>) is expected to report earnings for its fourth quarter. 
• Ecopetrol (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $7.68 billion. 
• Horizon Tech Finance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRZN#NASDAQ">HRZN</a>) is projected to report quarterly earnings at $0.32 per share on revenue of $25.68 million. 
• Owlet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWLT#NYSE">OWLT</a>) is expected to report quarterly loss at $0.48 per share on revenue of $16.92 million. 
• AeroVironment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) is expected to report quarterly earnings at $0.86 per share on revenue of $214.00 million. 
• Ross Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) is estimated to report quarterly earnings at $1.67 per share on revenue of $5.95 billion. 
• Evolus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOLS#NASDAQ">EOLS</a>) is likely to report quarterly earnings at $0.00 per share on revenue of $77.23 million. 
• Eos Energy Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) is expected to report quarterly loss at $0.20 per share on revenue of $6.23 million. 
• CryoPort (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYRX#NASDAQ">CYRX</a>) is expected to report quarterly loss at $0.31 per share on revenue of $58.79 million. 
• Ingram Micro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INGM#NYSE">INGM</a>) is likely to report quarterly earnings at $0.90 per share on revenue of $13.22 billion. 
• ChargePoint Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) is likely to report quarterly loss at $0.07 per share on revenue of $100.97 million. 
• Credo Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $120.31 million. 
• Crexendo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CXDO#NASDAQ">CXDO</a>) is expected to report quarterly earnings at $0.05 per share on revenue of $15.64 million. 
• CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) is estimated to report quarterly earnings at $0.86 per share on revenue of $1.03 billion. 
• Ooma (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OOMA#NYSE">OOMA</a>) is likely to report quarterly earnings at $0.16 per share on revenue of $64.70 million. 
• Custom Truck One Source (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTOS#NYSE">CTOS</a>) is expected to report quarterly earnings at $0.05 per share on revenue of $539.81 million. 
• Cricut (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRCT#NASDAQ">CRCT</a>) is expected to report quarterly earnings at $0.04 per share on revenue of $214.41 million. 
• Orion Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORN#NYSE">ORN</a>) is estimated to report quarterly earnings at $0.19 per share on revenue of $272.70 million. 
• Latham Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWIM#NASDAQ">SWIM</a>) is likely to report quarterly loss at $0.01 per share on revenue of $84.95 million. 
• Box (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $278.60 million. 
• Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) is projected to report quarterly earnings at $0.91 per share on revenue of $223.23 million. 
• Weyco Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEYS#NASDAQ">WEYS</a>) is projected to report earnings for its fourth quarter. 
• Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) is likely to report quarterly earnings at $0.84 per share on revenue of $1.13 billion. 
• Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) is likely to report quarterly earnings at $0.90 per share on revenue of $4.33 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ACNT

Amplify YieldShares Oil Hedged MLP Income ETF

AMLX

AOMR

ATNI

ATRO

CDXC

CGEN

CPIX

CRCT

CRDO

CTOS

CXDO

CYRX

EOLS

EOSE

ESPR

EVGO

FSTR

FTEK

GENI

GIFI

HGTY

HRZN

INFU

INGM

KIDS

MASS

MFIN

NPCE

Nuveen Arizona Dividend Advantage Municipal Funds 3

NYAX

OLPX

ONON

OWLT

PLUG

PMTS

PSFE

SCOR

SLND

SOPH

STIM

SWIM

TKNO

WEYS

YMAB

Earnings Scheduled For March 4, 2025

Chile's state-owned Codelco reported a modest increase in copper production for 2024, with output rising by 3,000 to 4,000 metric tons from the previous year. Although small, the production growth has raised hopes that the mining giant will stage a turnaround and help alleviate <a target="_blank" href="https://www.benzinga.com/topic/copper" rel="noreferrer noopener">anticipated copper shortages</a> by the decade's end.
"We crossed the production valley in 2024 and are ready to start 2025 on the upswing to retake the peak of 1.7 million tons of fine copper at the end of the decade," said Chairman Máximo Pacheco in an <a target="_blank" href="https://www.df.cl/empresas/mineria/maximo-pacheco-presidente-del-directorio-de-codelco-estamos-entre-un" rel="noreferrer noopener">interview</a> with the regional newspaper, Diario Financiero.
Preliminary data showed production reaching 1.329 million tons, compared to 1.325 million in 2023.
The company aims to achieve its production goals by extending the operational lifespan of its key mines, improving exploration efforts, and tackling infrastructure bottlenecks. Its ambitious plans involve significant investment, including increased capital expenditures to boost efficiency and output.
However, lower ore grades and operational challenges have strained its capacity. A 2023 rock collapse at the El Teniente mine—the world's largest underground copper mine—caused a 32% short-term drop in production, sending the company's output to a 25-year low.
Thus, expanding into lithium production when lithium prices have found their footing seems like a quality diversification.
The planned partnership with the domestic lithium producer SQM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) to mine the Atacama salt flats has stalled, but Pacheco remains optimistic.
"We are very close to securing approval from the National Economic Prosecutor's Office, but it's a complex process involving legal, financial, and labor elements," he noted.
The joint venture with SQM, set to last until 2060, will see Codelco take a leading role in managing the partnership starting in 2031. The lithium industry is critical for the global transition to clean energy, making the partnership a multi-billion-dollar opportunity for both companies and a significant revenue stream for the Chilean government.
Meanwhile, Codelco continues to work to finalize a partner for lithium production at the Maricunga site, aiming to <a target="_blank" href="https://www.benzinga.com/news/24/06/39229003/codelco-seeks-partner-for-maricunga-lithium-project-targeting-2030-production" rel="noreferrer noopener">begin operations by 2030</a>.
"We've worked intensively with them [strategic partners] on our database, site visits, and due diligence. We expect binding proposals during this year's first quarter," he concluded.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/25/01/42825094/us-steel-nippon-steel-sue-biden-administration-cleveland-cliffs-union-in-response-to-blocked-merger" target="_blank" rel="noreferrer noopener">US Steel, Nippon Steel Sue Biden Administration, Cleveland-Cliffs, Union In Response To Blocked Merger</a></li>
</ul>
Photo via Shutterstock

Chile's Codelco Targets Turnaround with Modest Copper Output Increase and Strategic Lithium Ventures

The global lithium market is set to remain oversupplied, keeping the prices depressed, but this challenging situation for commodity producers could help battery makers ease the transition to <a target="_blank" href="https://www.benzinga.com/electric-vehicles" rel="noreferrer noopener">electric vehicles(EVs)</a>.
Lithium prices have plummeted after soaring to $80,000 per ton in 2022, now trading below $10,000 per ton. The surplus stems from weaker-than-expected EV sales, aggressive production expansions, and strategic commitments by Chinese operators to maintain dominance in the global battery supply chain.
"There are some assets in production that shouldn't really be, but for their own reasons, they're ploughing on," said Martin Jackson, head of battery raw materials at CRU. Reuters <a target="_blank" href="https://www.reuters.com/markets/commodities/lithium-supply-surplus-set-stay-with-battery-makers-help-2024-12-10/" rel="noreferrer noopener">reported</a> his estimate that about 10% of global lithium production is currently unprofitable.
According to the Reuters report, UBS forecasts a 25% increase in global lithium supply this year, with the surplus expected to persist until 2027. Meanwhile, S&amp;P Global projects prices to stabilize between $9,900 and $11,600 per ton until 2026.
Driven by Beijing's ambition to dominate the market, Chinese companies remain a <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/06/39477524/exclusive-china-linked-lithium-volatility-a-headache-for-producers-but-a-win-for-retail-inves" rel="noreferrer noopener">key factor in lithium production</a>. Production persists in Australia, Africa, and South America even at high operational costs, as China has to ensure a steady supply to support its rising EV industry.
In the U.S., lithium producers are also adapting to market pressures. ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) <a target="_blank" href="https://www.benzinga.com/news/contracts/24/11/42087743/exxon-mobils-lithium-leap-100000-metric-tons-to-fuel-lg-chems-us-plant" rel="noreferrer noopener">has partnered with</a> LG Chem to secure lithium for a cathode production facility in Tennessee, aiming to become the largest of its kind in the country. Yet, despite the tailwind from the Inflation Reduction Act (IRA), Donald Trump's second mandate could bring potential rollbacks. On top of <a target="_blank" href="https://www.benzinga.com/news/24/07/39870803/us-mine-development-delays-among-worlds-longest-second-only-to-zambia" rel="noreferrer noopener">permitting delays</a>, his policy shift could slow domestic progress.
Major producers like SQM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) have <a target="_blank" href="https://www.benzinga.com/insights/earnings/24/11/42036495/a-peek-at-sociedad-quimica-y-mineras-future-earnings" rel="noreferrer noopener">suffered significantly</a>, with the company reporting a 73% decline in quarterly profits despite record sales volumes. Yet, the industry remains optimistic about long-term prospects. If the EV adoption accelerates, analysts see prices recovering above $14,500 per ton.
Still, some lithium operators are set to prosper even at current prices. Volt Lithium, a Canadian firm focusing on direct lithium extraction (DLE), has agreed with Wellspring Hydro to deploy a field unit in North Dakota.
With a worst-case-scenario extraction price of <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/06/39480795/exclusive-volt-lithium-ceo-touts-6b-cash-flow-opportunity" rel="noreferrer noopener">$2,900 per ton of lithium</a>, Volt will test its technology at the <a target="_blank" href="https://voltlithium.com/wp-content/uploads/2024/12/12-10-2024-North-Dakota-Field-Study-Agreement-Final-.pdf" rel="noreferrer noopener">second-largest domestic brine production</a>. The firm already has DLE operations in the Permian basin in Texas and the Keg River formation in its native Alberta.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42409098/newmont-lays-off-senior-employees-pursuing-further-cost-controls" target="_blank" rel="noreferrer noopener">Newmont Lays Off Senior Employees Pursuing More Cost Controls</a></li>
</ul>
Photo via Shutterstock

Media

Lithium Producers Brace For Prolonged Oversupply, Stalled Prices

ATLX

IONR

LAAC

SGML

Shares of lithium companies are trading lower. This year, the commodity has experienced an oversupply.

Small Cap

Press Releases

LiTHOS Announces Positive Results from AcQUA™ Technology Lithium Brine Tests with SQM on Salar de Atacama Brines

Comments

Sociedad Quimica Y Minera

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL